Brunswick Resources Inc.
TSX VENTURE : BRU

Brunswick Resources Inc.

December 22, 2014 11:08 ET

Brunswick Resources Closes the Transaction With Explor Resources for the Acquisition of Chester Copper Property

ROUYN-NORANDA, QUEBEC--(Marketwired - Dec. 22, 2014) - Brunswick Resources Inc. (the "Corporation" or "Brunswick") (TSX VENTURE:BRU) announces that it has received the final approval of the TSX Venture Exchange for the closing of the transaction relating to the option granted to Brunswick to acquire from Explor Resources Inc. ("Explor") the Chester copper property (the "Property"). The general term of the option agreement were previously announced by press releases dated April 17, April 22, 2014 and June 20, 2014.

The property is comprised of two mineral claims totaling 19 mineral units. The terms of the transaction were modified to adjust the purchase price to the current markets conditions. The Property is located in the Northumberland County, 70 km southwest of Bathurst, New Brunswick and 50 km west-northwest of Miramichi, New Brunswick, within the Bathurst Mining Camp. This area has an extensive history in base metal production from VMS deposits.

The Option to earn a 100% interest in the Property

Explor has granted to Brunswick the sole and exclusive right and option, over a three-year period, to acquire the Property for the following considerations: i) payment to Explor of an aggregate of $40,000, of which $10,000 at closing of the transaction; ii) issuance of a total of 5,000,000 common shares of Brunswick, of which 1,000,000 at closing of the transaction; iii) Brunswick shall assume the remaining financial obligation of $100,000 to previous owners; and iv) Brunswick shall complete a work program of $500,000, with a minimum of $100,000 during the first year of the option agreement. Upon the completion of these conditions over a period of three years, Brunswick will have acquired a 100% interest in the Property. Brunswick will assume the remaining NSR royalties in favor of previous owners on the Property.

The disinterested shareholders of Brunswick approved the transaction at its annual and special shareholders' meeting held on August 12, 2014 and the disinterested shareholders of Explor approved the transaction at its annual and special shareholders' meeting held on October 7, 2014. The TSX Venture Exchange has approved the closing of the transaction.

Chris Dupont, President and Chief Executive Officer of Brunswick Resources Inc. commented: "We are extremely pleased with the acquisition of the Chester Property. The Chester Property has an existing Copper Resource in the famous Bathurst Mining Camp (BMC). Brunswick Mines one of the mines in the BMC, produced in excess of 135 million tonnes of Base Metal ore. There is significant exploration potential to increase the existing resource based on our model and interpretation. Our interpretation leads us to believe the structure may have 3 km of strike length."

This press release was prepared by Brunswick Resources Inc. Neither the TSX Venture Exchange Inc nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Chris Dupont P.Eng is the qualified person responsible for the information contained in this release.

Brunswick Resources Inc. is a publicly listed company trading on the TSX Venture (BRU).

This press release was prepared by Brunswick Resources Inc. Neither the TSX Venture Exchange Inc nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

About Brunswick Resources Inc.

Brunswick has as its flagship property the Abitibi Gold Property located in Munro Township in the famous Timmins mining camp. There are many surface gold showings that require investigation by ground geophysical surveys and followed up by a diamond drilling program. A recent airborne survey has successfully outlined many EM and magnetic structural features. A geophysical feature similar to the Croesus mine has been identified. The Abitibi Gold Property consists of 112 claims located approximately 86 kilometres east northeast of the city of Timmins in the Larder Lake Mining Division, Ontario.

This document may contain forward-looking statements relating to Brunswick's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Brunswick's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filling. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not placed on such forward-looking statements. Brunswick disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

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